According to @Andre_Dragosch, the Venezuelan Petro token was a failed token launched in 2018 by the Venezuelan government that was intended to tokenize the country’s oil reserves. Source: @Andre_Dragosch on X, Jan 5, 2026. For traders, this historical case highlights the policy and execution risks inherent in state-backed, commodity-backed cryptocurrencies and serves as a caution when evaluating similar oil-reserve tokenization narratives. Source: @Andre_Dragosch on X, Jan 5, 2026.